Ghana: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Ghana

The Ghanian wooden furniture treatments market expanded rapidly to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, showed a deep contraction. Wooden furniture treatments consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wooden Furniture Treatments Production in Ghana

In value terms, wooden furniture treatments production rose significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. Wooden furniture treatments production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Wooden Furniture Treatments Exports

Exports from Ghana

In 2022, approx. X tons of polishes and creams for wooden furniture and floors were exported from Ghana; growing by X% compared with the previous year's figure. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden furniture treatments exports contracted to $X in 2022. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for wooden furniture treatments exports from Ghana, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for polishes and creams for wooden furniture and floors exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

In 2022, the average wooden furniture treatments export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Wooden Furniture Treatments Imports

Imports into Ghana

In 2022, the amount of polishes and creams for wooden furniture and floors imported into Ghana skyrocketed to X tons, jumping by X% against the previous year. Over the period under review, imports, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden furniture treatments imports skyrocketed to $X in 2022. Overall, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest wooden furniture treatments supplier to Ghana, accounting for a X% share of total imports. Moreover, wooden furniture treatments imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the UK (X% per year).

In value terms, the UK ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the largest wooden furniture treatments suppliers to Ghana, with a combined X% share of total imports. South Africa, China, Lebanon and the United States lagged somewhat behind, together accounting for a further X%.

Lebanon, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wooden furniture treatments import price amounted to $X per ton, flattening at the previous year. In general, the import price continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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